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Ledgers, the foundation of accounting, are as ancient as writing and money.

Their medium has been clay, wooden tally sticks (that were a fire hazard), stone, papyrus and paper. Once computers became normalized in the 1980s and ’90s, paper records were digitized, often by manual data entry.

These early digital ledgers mimicked the cataloguing and accounting of the paper-based world, and it could be said that digitization has been applied more to the logistics of paper documents rather than their creation. Paper-based institutions remain the backbone of our society: money, seals, written signatures, bills, certificates and the use of double-entry bookkeeping.

Blockchain will massively change commodities ops, repo, inventory finance etc etc. That has already started. Bitcoin and friends? pointless and without value. For comparison: The technology underlying the internet has changed everything, but the price of the internet never existed. bitcoin is a false attempt to do just that. besides, it does not qualify as money in an economic-theoretical sense. no storage of value, no means of exchange. the fact that when we talk about bitcoin, we quote bitcoin in USD etc but not the other way around. nuff said.

Blockchain will massively change commodities ops, repo, inventory finance etc etc. That has already started. Bitcoin and friends? pointless and without value. For comparison: The technology underlying the internet has changed everything, but the price of the internet never existed. bitcoin is a false attempt to do just that. besides, it does not qualify as money in an economic-theoretical sense. no storage of value, no means of exchange. the fact that when we talk about bitcoin, we quote bitcoin in USD etc but not the other way around. nuff said.

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You write as if you understand what a blockchain is but you do not. To you it's a buzzword that you think you can throw around and mesmerize others. (I've explained what it is on one of my lengthy posts).